DNB set to dominate the mobile banking space with payment initiation from Nordic API Gateway

The open banking platform, Nordic API Gateway, announces that it has extended its partnership with Norway’s largest bank to enable customers to pay from other banks within DNB’s mobile banking app. In this way, DNB has taken an important step to become the preferred mobile bank for all Norwegians.

When DNB became one of the first Nordic banks to use account aggregation in their mobile banking app in 2018, customers with accounts across several banks were able to get a full financial overview within one single mobile banking app. Today, DNB has taken that relationship one step further as customers – and soon non-customers – are able to perform instant account-to-account payments from any bank within DNB’s own mobile bank.

Commenting on the news from DNB and the strengths of owning the interface for banks, CEO & Founder of Nordic API Gateway, Rune Mai, says:

“What we’re seeing here is next-level open banking. DNB has become a financial institution trailblazer both by aggregating data from all Norwegian banks and by empowering customers to pay bills and transfer money between non-DNB accounts.”

And adds: “It’s also a clear testament to the platform quality Nordic API Gateway is providing. We’re the only open banking platform that actually delivers full coverage of the markets we are in for both personal and business accounts , together with a payment initiation service that is delivering more frictionless convenience to the Nordics and beyond.”

Elaborating on the new payment feature and the vision of becoming the preferred mobile banking service for all Norwegians, Group Executive Vice President Retail Banking at DNB, Ingjerd Blekeli Spiten, says:

“This is an important step in the direction of becoming the mobile bank for all Norwegians. We’re giving our customers a huge flexibility as they’re now able to make payments and transfers between their own accounts across several different banks. For us, it’s all about making it easier for customers to gain a full financial overview no matter how many banks they might have and Nordic API Gateway enables us to do exactly that”.

Rune Mai highlights that Nordic API Gateway is on fast-track to expand the platform into 17 new European markets within the next five months and is expecting a full European coverage during 2020.